7411 Iddings Ct · Merrillville, IN 46410

$320,000

3 bd · 3.0 ba · 1,876 sqft · SingleFamily public records · 2 Days on market

Built 1974 0.49 ac lot Est $276k · 16% over

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Why this score? — see what drove the F grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +11.2/30.0
• Livability +3.8/5.0
• Rent growth +3.5/5.0
• DSCR +3.3/10.0
• Schools +2.6/10.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• ARV discount +0.3/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Who knew you could find such a secluded-feeling home in town? The outside is reminiscent of a chalet, yet the inside speaks modern upgrades! The main level has an open feel, with several doors to the wrap-around deck. Kitchen is fully upgraded with new cabinetry, granite counters, and stainless appliances. Main-floor bedroom with cathedral ceilings also has a California bath. The upper level has 3 bedrooms, one with a walk-in closet and balcony. All three baths have been updated, and the entire house has received a beautiful face-lift. The walk-out basement is just steps away from the in-ground pool, which has a new pump and new tile! A new roof completes the package. Peaceful and serene, Don't just imagine-- make this your home!

Key facts

• In-ground pool
• Pool shed
• Private oasis

Tags

• CUL-DE-SAC
• PRIVATE OASIS
• IN-GROUND POOL
• POOL SHED

Property features AI

Finance

• Other: Lot size source: Assessor
• Financial info: No investor or income/expense details listed
• HOA & community: No HOA or community details listed

Exterior

• Parking: Has garage; 2-car garage
• Security: No security features listed
• Utilities: Public water; Public sewer
• Home design: Built in 1974; One and one half stories
• Construction: No construction material or roof/foundation details listed
• Exterior features: Other view

Interior

• Kitchen: Dishwasher; Refrigerator; Microwave; Gas Range
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3; Bedroom 4
• Flooring: No flooring details listed
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Basement (other type); Total of 7 rooms; No additional interior features listed
• Laundry & utility: No laundry/utility details listed

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $320k.

Deal economics

• At list price, monthly cash flow is $-125 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $298k (6.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $242k (24.5% below list).
• Recommended offer: $242k (24.5% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 4.7% in Merrillville — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 76/100 on livability (#50 in IN, #3,393 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities F, health & safety D-.
• Merrillville Community School Corporation (suburban): math 22% / reading 36% proficiency, ranked #240 of 301 in IN (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Homer Iddings Elementary School (math 22% / reading 22%, grade F, #790 of 994 statewide, top 81%, 488 students, 69% FRL); Pierce Middle School (math 18% / reading 37%, grade F, #230 of 330 statewide, top 71%, 919 students, 70% FRL); Merrillville High School (math 19% / reading 55%, grade F, #247 of 369 statewide, top 70%, 2,042 students, 64% FRL) — zoned schools average 68% FRL vs 50% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.1%/yr); 272 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); 1,642 units permitted in Lake County in 2024 (14 in 5+ unit buildings).
• At $2,416/mo this rent would consume 45% of the median local household income ($64k/yr) (locally 1644% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Lake County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 28y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $177k; list at $320k implies a 81% gain — meaningful room to come down on a strong offer.

Recommended offer $241,559 (24.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.75% ✗
• Cap rate: 5.82%
• Cash-on-cash: -1.68%
• DSCR: 0.93
• GRM: 11.0

CMA / ARV

• ARV (on-the-fly): $275,772
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1429 W 74th Pl	0.60mi	3/2.5	1,945 (+4%)	2mo	$285,000	$147	62
815 W 70th Ave	0.58mi	4/2.0 (+1)	1,850 (-1%)	1mo	$337,000	$182	61
1110 W 72nd Cir	0.57mi	3/2.0	1,768 (-6%)	1mo	$295,000	$167	59
1130 W 72nd Ct	0.63mi	3/2.5	1,788 (-5%)	4mo	$245,000	$137	58
2 Meadow Ln	0.55mi	4/2.0 (+1)	1,976 (+5%)	2mo	$235,000	$119	54
7710 Madison St	0.56mi	3/1.5	1,751 (-7%)	4mo	$285,000	$163	54
7216 Pierce St	0.58mi	3/2.0	2,060 (+10%)	1mo	$273,900	$133	52
860 W 79th Ave	0.70mi	4/2.0 (+1)	2,004 (+7%)	2mo	$365,000	$182	45
7145 Delaware St	0.64mi	3/1.0	1,748 (-7%)	7mo	$228,000	$130	45
6797 Adams St	0.66mi	3/2.0	1,670 (-11%)	3mo	$190,000	$114	44
1540 W 76th Ave	0.71mi	3/3.0	2,100 (+12%)	6mo	$419,900	$200	42
6810 Van Buren St	0.68mi	4/2.0 (+1)	2,128 (+13%)	2mo	$243,000	$114	35

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 4.1% rent growth · sell at horizon

5-year hold

• IRR: -18.0%
• Equity multiple: 0.36×
• Total profit: $-57,214
• Equity at exit: $47,713

10-year hold

• IRR: -8.4%
• Equity multiple: 0.45×
• Total profit: $-49,062
• Equity at exit: $27,668

Cash invested: $89,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Indiana: 90 Strongly Landlord-Friendly · R+11
• County: — inherits STATE
• City: — inherits STATE

10-day pay-or-quit; landlord-favorable; preempted.

Methodology + full state rankings →

ZIP-level market 46410

• Rents YoY: 4.1%
• Active inventory: 272
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $2,416 medium
• Mortgage (P&I): −$1,678
• Tax from tax record: −$222 /mo · $2,668/yr
• Insurance: −$133
• HOA: −$0
• Vacancy / Maint / Mgmt: −$507
• Net cashflow: $-125

Break-even live

Break-even rent $2,574

Max offer price $297,839

Occupancy floor —

Sensitivity live

Price	-10% $56	-5% $-35	+0% $-125	+5% $-216	+10% $-307
Rent	-10% $-316	-5% $-221	+0% $-125	+5% $-30	+10% $65
Rate	-1.0pp $36	-0.5pp $-44	base $-125	+0.5pp $-208	+1.0pp $-293

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $80,000
• Closing costs: $9,600
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
691 W 77th Ave Unit 691 Merrillville, IN	3.0	2.0	1300	$2,300	$1.77	9d	1	0.48mi
330 E 69th Pl Merrillville, IN	3.0	1.5	1482	$1,850	$1.25	4d	1	0.75mi
8201 Polo Club Dr Merrillville, IN	1.0–3.0	1.0–2.0	1200	$2,137	$1.78	1d	16	1.39mi
1865 W 64th Pl Merrillville, IN	4.0	2.0	2034	$4,900	$2.41	45d	1	1.45mi

Listing history 8 events

1. 2026-05-22
   listed $320,000 Active
2. 2014-01-24
   soldstatus $177,000 739-char remark

   Show marketing remark (739 chars)

   Who knew you could find such a secluded-feeling home in town? The outside is reminiscent of a chalet, yet the inside speaks modern upgrades! The main level has an open feel, with several doors to the wrap-around deck. Kitchen is fully upgraded with new cabinetry, granite counters, and stainless appliances. Main-floor bedroom with cathedral ceilings also has a California bath. The upper level has 3 bedrooms, one with a walk-in closet and balcony. All three baths have been updated, and the entire house has received a beautiful face-lift. The walk-out basement is just steps away from the in-ground pool, which has a new pump and new tile! A new roof completes the package. Peaceful and serene, Don't just imagine-- make this your home!

3. 2013-11-15
   listed $179,000 739-char remark

   Show marketing remark (739 chars)

   Who knew you could find such a secluded-feeling home in town? The outside is reminiscent of a chalet, yet the inside speaks modern upgrades! The main level has an open feel, with several doors to the wrap-around deck. Kitchen is fully upgraded with new cabinetry, granite counters, and stainless appliances. Main-floor bedroom with cathedral ceilings also has a California bath. The upper level has 3 bedrooms, one with a walk-in closet and balcony. All three baths have been updated, and the entire house has received a beautiful face-lift. The walk-out basement is just steps away from the in-ground pool, which has a new pump and new tile! A new roof completes the package. Peaceful and serene, Don't just imagine-- make this your home!

4. 2013-08-28
   soldstatus $75,880 281-char remark

   Show marketing remark (281 chars)

   Unique cedar sided 2 story home located on a cul-de-sac lot in the heart of Merrillville. Property features, 4 bedrooms, 2 baths, an unfinished basement, 2 car detached garage, fenced yard, in ground pool, deck and balcony. Property needs work and updating but has great potential.

5. 2013-06-05
   listed $75,000 281-char remark

   Show marketing remark (281 chars)

   Unique cedar sided 2 story home located on a cul-de-sac lot in the heart of Merrillville. Property features, 4 bedrooms, 2 baths, an unfinished basement, 2 car detached garage, fenced yard, in ground pool, deck and balcony. Property needs work and updating but has great potential.

6. 2005-03-18
   listed $209,900
7. 1998-10-31
   historical
8. 1998-08-16
   listed $169,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IN · Partial reset (capped growth)

• Current annual tax: $2,668 · $222/mo
• Projected year-2 tax: $2,694 · $224/mo
• Expected delta: +$26/yr (+$2/mo · 1.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 21% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥101°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,987
• − Mortgage interest: −$17,925
• − Property taxes: −$2,668
• − Insurance: −$1,600
• − Repairs & maintenance: −$2,319
• − Management: −$2,319
• − Depreciation: −$9,309
• Taxable loss: −$7,153
• Est. tax savings @ 24.0%: +$1,717
• After-tax cash flow: $211/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Merrillville Community School Corporation
• NCES district ID: 1809690
• Math proficiency: 22% ▼ -17.00%
• Reading proficiency: 36% ▼ -8.00%
• Median HH income: $54,401
• Composite: 25.74/100
• National rank: #7375
• State rank: #240 of 301 in IN

Livability — Merrillville

• Score: 76/100
• State rank: #50
• US rank: #3393

Category grades

Amenities F Commute A+ Cost of living A+ Crime B- Employment C+ Housing A+ Health & safety D- User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Merrillville, IN
• County: Lake County · 422,878 people
• City population: 39,243
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 39,243
• Household income: $64,127
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1644.0

Population outlook (Lake County) Hauer SSP2

• Today (2025): 484,026 people
• By 2030: 478,091 · -1.2%
• By 2040: 462,974 · -4.3%
• By 2050: 449,894 · -7.1%
• By 2075: 436,169 · -9.9%
• By 2100: 426,607 · -11.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: Black 46% White 32% Hispanic / Latino 16% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 11% Puerto Rican 3%
• Common ancestry: Romanian 4% Iranian 2% Italian 1%
• Foreign-born: 7% · Canada
• Languages at home: 88% English-only · Spanish 7% Other Indo-European 2%

Political lean MEDSL · Lake

• 2024 margin: Lean D (+5.6) · D 52.1% · R 46.5% · Other 1.5%
• 2008→2024 swing: -28.6pp toward R · 2008: 34.3pp · 2024: 5.6pp
• All cycles: 2024: D+5.6 2020: D+15.1 2016: D+20.6 2012: D+31.0 2008: D+34.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -180.11%
• Current HPI: 240.8833
• Rent YoY: ▲ 4.10%
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• State GDP YoY: ▲ 2.90%
• F500 in state: 18

Industry mix (Fortune 500 HQ in IN)

Industry	F500 HQs	Revenue
▸Industrial Machinery	2	$37B
▸Healthcare	1	$177B
▸Pharmaceuticals	1	$45B
▸Metals / Steel	1	$18B
▸Agriculture	1	$17B
▸Packaging	1	$12B

Price history

+88.3% since first listed

9 events — show timeline

• 2026-05-25 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-05-22 Listed $320,000 NIRA MLS as Distributed by MLS Grid
• 2014-01-24 Sold (MLS) $177,000 NIRA MLS as Distributed by MLS Grid
• 2013-11-15 Listed $179,000 NIRA MLS as Distributed by MLS Grid
• 2013-08-28 Sold (MLS) $75,880 NIRA MLS as Distributed by MLS Grid
• 2013-06-05 Listed $75,000 NIRA MLS as Distributed by MLS Grid
• 2005-03-18 Listed $209,900 NIRA MLS as Distributed by MLS Grid
• 1998-10-31 Listing Removed — NIRA MLS as Distributed by MLS Grid
• 1998-08-16 Listed $169,900 NIRA MLS as Distributed by MLS Grid

Property tax history

+1.3%/yr

Latest (2024): $2,668 · +2.2% YoY. Source: county tax records.